In a new study, NAHB uses the 2021 American Housing Survey (AHS) to investigate the characteristics of recent home buyers, defined as households who purchased homes in the two years preceding the date the 2021 AHS was conducted. According to this criterion, roughly 10.2 million households recently bought and moved to a new home. The study focuses on two important… Read More ›

According to the Federal Reserve’s latest G.19 Consumer Credit report, total consumer credit outstanding totaled $4.97 trillion (seasonally adjusted annual rate) in August, a decrease of $15.6 billion over the month but $188.8 billion—or 3.9%–higher than August 2022. The monthly decline resulted from a 0.8% drop in nonrevolving credit outstanding that was partially offset by a 1.2% increase in revolving credit…. Read More ›

Located in one of north Scottsdale’s most prestigious communities, Ellington Heights at Silverleaf is situated in an upper canyon of the McDowell Mountain Range with unprecedented views of downtown Phoenix. Modern Desert Prairie in design, a style that originated with Frank Lloyd Wright, the residence is characterized by large overhangs, an expansive hip roof, and a horizontal form and is defined by a striking mix of ledgestone, limestone, hemlock and clay tile. This three-story, seven-bedroom house was conceived with entertaining…

After more than a year of strong gains, average hourly earnings for residential building workers* increased at a relatively slower pace in the past few months. Wage growth has retreated below 3%, from the peak rate of 8% in 2021. According to the Bureau of Labor Statistics (BLS) report, average hourly earnings (AHE) for residential building workers were $29.99 per… Read More ›

Photo by Bitterman Photography Photo by Bitterman Photography Photo by Bitterman Photography Photo by Bitterman Photography Photo by Bitterman Photography Photography by Bitterman Photography Architect/Designer | Brandon ArchitectsBuilder | Meadow Mountain Homes Landscape Architect/Designer | Fieldscape Inc. Interior Designer | Ultra-Mod Design Concepts Design Statement | The structure was designed as a duplex home totaling 10,063 sf, with both units featuring master suites, secondary bedrooms, laundry, kitchen, great room, dining, and outdoor patios and roof decks. The units are separated by a large concrete…

INDIANAPOLIS (Oct. 3, 2023) – The U.S. Census Bureau’s most recent report on building permits issued in August 2023 marked a significant upturn in the housing sector. According to the data, 1,738 single-family permits were issued in August 2023 – a 20% increase compared to the 1,447 permits issued in August 2022. This remarkable surge represents the highest number of permits issued for the month of August since 2007. Furthermore, the surge in single-family permits is not limited to the…

INDIANAPOLIS (Sept. 29, 2023) – The Indiana Builders Association is honored by Governor Eric Holcomb to declare October as “Careers in Construction Month” (CICM). CICM is designated to increase public awareness and appreciation of construction craft professionals and the entire construction workforce. The construction industry is one of the nation’s largest industries, employing more than seven million individuals in the United States. “We are pleased to recognize the construction craft professionals and critical role they play in the development of…

Job growth remained solid in September as the Fed fights against inflation. In fact, the recent jobs data has been stronger than most economists expected and is a reminder that GDP growth for the third quarter will be very strong and inflation risks persist. Total nonfarm payroll employment increased by 336,000 and the unemployment rate remained at 3.8% in September…. Read More ›

Affectionately named “Happy Place” by its owners, this British West Indies style custom residence rests on the site slightly canted in response to capturing waterfront views from nearly every room and the desire to maximize the living space of the lot. While artfully shaping the given confines of the land, the design team and contractor were able to preserve the large footprint of the home and add additional outdoor living space. Such feats of ingenuity include abutting the multilevel pool…

BY ASHOK CHALUVADI  According to the annual data from the Census Bureau’s Survey of Construction (SOC), a total of 29,000 5,000+ square-foot homes were started in 2022, down from 33,000 in 2021.  In the boom year of 2006, the number of new 5,000+ square foot homes reached a peak of 45,000.   In 2007, the number fell to 37,000.  In 2008, only 20,000 such homes were started, and from 2009 to 2012, the number remained well under 20,000 a year, but has been consistently…